MIRA INFORM REPORT

 

 

Report Date :           

23.07.2011

 

IDENTIFICATION DETAILS

 

Name :

SERTOM M.M. SPA

 

 

Registered Office :

Via Mattei 16/B, Collebeato, 25060

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.03.1989

 

 

Legal Form :

Public Independent

 

 

Com. Reg. No.:

03062380179

 

 

Line of Business :

manufacture of ossature in metal for construction

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Italy

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Company name & address 

 

Sertom M.M. SpA

Via Mattei 16/B

Collebeato, 25060

Italy

Tel:       +39 0302 511234

Fax:      +39 0302 511562

 

 

Synthesis  

 

Employees:                   31

Company Type:            Public Independent

Incorporation Date:         14-Mar-1989    

Financials in:                 USD (Millions)

 

 

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:                19.2

Total Assets:                 16.2

 

 

Business Description     

 

Sertom M.M. SpA is primarily engaged in manufacture of ossature in metal for construction; manufacture of industrial ossature in metal (ossature for blast furnaces, lifting and handling equipment, etc.); and manufacture of prefabricated buildings mainly of metal (site huts, modular exhibition elements, etc.).

 

Industry 

Industry Construction - Supplies and Fixtures

ANZSIC 2006:    2229 - Other Structural Metal Product Manufacturing

NACE 2002:      2811 - Manufacture of metal structures and parts of structures

NAICS 2002:     33231 - Plate Work and Fabricated Structural Product Manufacturing

UK SIC 2003:    2811 - Manufacture of metal structures and parts of structures

US SIC 1987:    3443 - Fabricated Plate Work (Boiler Shops)

 

           

Key Executives   

 

Name                                        Title                 

Tommaso Seravesi                     President         

Luigi Boniotti                             Member of the board     

Paolo Bertolotti Seravesi Managing director         


Registered No.(ITA):       03062380179

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Via Mattei 16/B

Collebeato, 25060

Italy

Tel:       +39 0302 511234

Fax:      +39 0302 511562

           

Sales EUR(mil):             14.5

Assets EUR(mil):           12.1

Employees:                   31

Fiscal Year End:            31-Dec-2010

 

Industry:                        Construction - Supplies and Fixtures

 

Incorporation Date:         14-Mar-1989

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ITA):       03062380179

 

Managing director:         Paolo Bertolotti Seravesi

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

 

Industry Codes

 

ANZSIC 2006 Codes:

2229     -          Other Structural Metal Product Manufacturing

 

NACE 2002 Codes:

2811     -          Manufacture of metal structures and parts of structures

 

NAICS 2002 Codes:

33231   -          Plate Work and Fabricated Structural Product Manufacturing

 

US SIC 1987:

3443     -          Fabricated Plate Work (Boiler Shops)

 

UK SIC 2003:

2811     -          Manufacture of metal structures and parts of structures

 

 

Business Description

 

Sertom M.M. SpA is primarily engaged in manufacture of ossature in metal for construction; manufacture of industrial ossature in metal (ossature for blast furnaces, lifting and handling equipment, etc.); and manufacture of prefabricated buildings mainly of metal (site huts, modular exhibition elements, etc.).

 

 

Financial Data

 

Financials in:     EUR(mil)

Revenue:           14.5

Assets:             12.1

Current Assets: 10.2     

Total Liabilities:  12.1     

Net Worth:        0.9       

Date of Financial Data:   31-Dec-2010

 

 

Financials in:

EUR(mil)

 

Revenue:

14.5

Assets:

12.1

Current Assets:

10.2

 

Total Liabilities:

12.1

 

Net Worth:

0.9

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

22.4%

NA

 

 

Key Corporate Relationships

 

Bank:    Unicredit Banca Ag

 

 

Executives Report

 

Board of Directors

 

Name

Title

Function

Luigi Boniotti

 

Member of the board

Director/Board Member

 

Executives

 

Name

Title

Function

Tommaso Seravesi

 

President

President

Paolo Bertolotti Seravesi           

 

Managing director

Managing Director

 

 

Annual Profit & Loss

 


31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Total income

19.9

10.1

17.4

Net sales

19.2

11.9

17.1

Other operating income

0.1

0.1

0.2

Raw materials and consumables employed

11.4

4.4

10.7

Other expenses

4.0

3.0

3.5

Total payroll costs

2.0

2.0

2.1

Fixed asset depreciation and amortisation

0.6

0.4

0.3

Other operating costs

0.5

0.1

0.1

Net operating income

1.4

0.1

0.8

Total financial income

0.0

0.1

0.0

Total expenses

0.2

0.3

0.7

Profit before tax

1.2

-

0.1

Profit after extraordinary items and before tax

0.8

-

0.1

Total taxation

0.4

-

0.1

Net profit

0.4

-

0.0

Net loss

-

0.4

-

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

1.2

0.8

1.2

Provision for pensions

0.4

0.4

0.4

Mortgages and loans

-

-

2.1

Other long-term liabilities

-

-

0.2

Trade creditors

8.6

3.4

5.5

Bank loans and overdrafts

4.2

5.3

5.5

Other current liabilities

1.9

1.9

1.8

Accruals and deferred income

0.0

0.0

0.1

Total current liabilities

14.7

10.6

12.9

Total liabilities (including net worth)

16.2

11.8

16.8

Intangibles

0.8

0.9

0.9

Total tangible fixed assets

1.8

1.2

1.2

Long-term investments

0.0

0.0

0.0

Total financial assets

0.0

0.1

0.1

Total non-current assets

2.6

2.2

2.2

Finished goods

4.1

3.9

5.7

Net stocks and work in progress

4.3

4.0

5.8

Trade debtors

7.5

4.5

7.5

Other receivables

0.7

0.6

0.5

Owing from participants

0.0

0.1

0.2

Cash and liquid assets

1.1

0.4

0.5

Accruals

0.1

0.1

0.1

Total current assets

13.6

9.6

14.6

Total assets

16.2

11.8

16.8

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Sales per employee

0.91

0.64

0.87

Profit per employee

0.04

-

0.01

Average wage per employee

0.10

0.11

0.11

Net worth

1.2

0.8

1.2

Number of employees

31

26

26

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.